Path: Setup > Employer Classification > Add a New Employer Classification

This section explains how to add new employer classifications to your predefined list within the system.

Steps to Add a New Employer Classification

1. Click on Add a new Employer Classification.
2. In the Description field, enter the name or description for the new employer classification.
3. Select the Enabled checkbox to activate this classification for use.

Affordability Restrictions

MaxMoney has new fields under Setups > Employer Classification > Add Classification

• Percentage of Salary
• Income Type: Specify if it is the Net or Gross salary. 
• Minimum Take Home Salary

How does it work?

1. If (client's Salary) is less or equal to (Minimum Take Home Salary) then Available for installment= 0
2. If (client's Salary) is more than (Minimum Take Home Salary) then Available for installment = (Salary) * (Percentage of Salary)
3. If ((client's Salary) - (Available for Installment)) is less than (Minimum Take Home Salary) then Available for installment = (Salary) - (Minimum Take Home Salary)

Buttons

• Save: Click this button to save the new employer classification to the database.
• Cancel: Click this button if you don't want to save the information and wish to return to the previous screen.